PrimeBit announced application programming interface (API) trading is available on the first peer-to-peer cryptocurrency derivatives platform with up to 200x leverage. This recent enhancement takes this platform, the only one to fully integrate MetaTrader, to the next level.
An API describes a set of rules describing how one application interacts with another application. In the ecosystem of cryptocurrency trading, an API allows for connections with the exchange programmatically. This connection enables users to obtain real-time market data, make trades, and manage their accounts.
API provides traders the opportunity to effectively manage positions, including closing or opening trades as well as reading accounts, prices, and trades. Users can also update trades by leveraging the API.
API trading minimizes latency and maximizes the trading experience. This functionality will allow PrimeBit to meet the needs of institutional clients and advanced cryptocurrency traders who utilize this communication protocol daily.
Further improving the trader experience, the API permits the multiple trading on multiple instruments simultaneously. Users will also enjoy more sophisticated entry conditions. Traders can activate orders after a set time period, a specified price change, or other metrics. With the introduction of the API, the options and opportunities for traders are numerous. Traders can realize more freedom and the ability to trade more efficiently and effectively.
The API also opens up new avenues to analyze markets by allowing traders to create custom indicators based on their specifications or goals. Additionally, the API address risk management, giving users the ability to preview the risk of new and existing trades.
Another critical feature is the monitoring of all global financial markets. With this benefit, traders no longer have to monitor the vast amount of markets manually. The platform will send users alerts when anything of consequence occurs.
PrimeBit is committed to continuing to evolve its platform and offer even more features to its community. The team is currently working on a new, simplified webtrader, new payment channels, and adding more trading pairs.